Monopolies misallocate resources because
A) price does not equal marginal cost.
B) price does not equal average variable cost.
C) marginal cost does not equal average total cost.
D) profits are usually positive.
Answer: A
Economics
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Using the money demand and money supply model, show and explain why the Federal Reserve cannot achieve a target for both the money supply and an interest rate
What will be an ideal response?
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Milk is considered a commodity because it is which of the following?
(A) The same product regardless of who sells it. (B) An agricultural product. (C) An inexpensive product. (D) A product that can be bought in many different ways.
Economics